I honestly wonder how so many people can afford cars around $50K+? (payments, rent)
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Maybe they just have a better job and are actually wealthy?
To even drive a $80k+ car, you either have to have really, really good credit (which requires a good salary or income anyways), have a lot of money, or have a rich family or business.
When you make that much money, wouldn't you want a nice car, a nice TV, etc. too? People who make money like to reward themselves as much as the next guy and there is nothing wrong with that. I don't quite see how that is showing off based on your assumptions since you really don't know anything about them.
On the opposite end of the spectrum, there are filthy rich people who are crazy stingy - still buys cheap clothing, haggles like crazy, and does not leave tips and uses coupons. Are they supposedly trying to prove a point too?
Location: East of Seattle since 1992, 615' Elevation, Zone 8b - originally from SF Bay Area
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In nearby Bellevue WA, the Chevrolet dealer closed up, other low-end dealers struggling, but the Mercedes, Lexus and Porsche dealers are thriving. At Mercedes they just did a huge expansion-remodel.
People who are barely making it are not buying new cars at all, but those with husband and wife making $75-100k each are spending without worrying about the economy. Some of them will get burned in the end, but for now they are doing fine. There are several small suburban cities (east of Seattle) where the average family income is $125,000 or more, those people can afford the luxury cars. I'm perfectly happy to have 3 cars of which the newest is a 2007 Ford.
I am sure soemwhere ;someone is askig how people wh are poor have smart phones.high spped internet and all chaneel HD TV with huge screened HDTVs also. I fact they are the same people who couldn't afford those homes as we have seen really.
People can always afford what they want, it is what they need that they never can afford.
A police officer told me that he was amazed at how many people he pulled over in expensive cars that had no auto insurance. He said when questioned the people, all said pretty much the same thing, they could not afford it.
When he would ask them how they could afford an expensive car and no insurance, their response would be that if they lost the car, everyone would know they were broke. They would do anything to keep the car.
dinks and leases ? certainly
as to "really do have money"? meh
income and credit ≠ wealth (have money)
That's what I thought, too, until the salary stats came out on the people in my neighborhood. The whole time I am thinking, "These people are crazy for spending money like this." Turns out they had the money to spend. And plenty of it.
That's what I thought, too, until the salary stats came out on the people in my neighborhood.
Turns out they had the money to spend. And plenty of it.
You're still describing **income**.
And yes, there are a lot of people doing very well in that regard.
Sadly though, too many of them will run through their wages every month
to substantially the same degree as too many of the people who have far lower wages to work from.
(These folks just get to do that "subsistence" thing with nicer toys in bigger homes.)
Some get this and do things to avoid the pitfalls.
Few of them though... will be driving flashy (that isn't also tax deductible).
Quote:
There are a lot of rich folks.
The rich, the wealthy and similar terms like that are generally and most accurately used to describe people with substantial net worth. This condition, when it applies, has damned little to do with their level of earned income.
People can always afford what they want, it is what they need that they never can afford.
A police officer told me that he was amazed at how many people he pulled over in expensive cars that had no auto insurance. He said when questioned the people, all said pretty much the same thing, they could not afford it.
When he would ask them how they could afford an expensive car and no insurance, their response would be that if they lost the car, everyone would know they were broke. They would do anything to keep the car.
It is called being a slave to your own ego.
Sometimes I wonder if the person in that new black Escalade that hit me, totalled my car and fled the scene was one of ^these types^...
maybe they just earn more than they spend and have spare cash....
we bought in the last 6 months - outright with cash - a new Lexus 450 hybrid, a 3 year old SLK350 and last weekend a 2009 porsche 911 4S.
there are people out there who don't live on credit.....
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